Job creation primary objective of NDA govt in Andhra, says CM Naidu

Amaravati: Andhra Pradesh Chief Minister N Chandrababu Naidu on Monday said that job creation is the primary objective of the NDA government here and industrial policies should align with it.

The chief minister noted that new policies should attract investors and industrialists, paving the way for 'speed of doing business' while reviewing industrial development, MSME, food processing and private industrial park draft policies.

"Job creation is the primary objective of the alliance (NDA) government and industrial policies should align with this objective," said Naidu in an official release.

According to the CM, private industrial park policy needs some more deliberation and the other three policies could be forwarded to the next Cabinet meeting.

Naidu exuded confidence that new policies have scope to attract big ticket investments and added that they are being drafted for up to eight departments.

As part of encouraging investments in the southern state, he said that additional incentives will be doled out to investors who come forward to invest immediately after implementing the industrial development policy.

The draft policy has been designed to extend additional incentives to the first 200 companies which submit their concept of establishment and date of commercial production.

Companies which generate higher numbers of jobs will receive 10 per cent more incentives, said Naidu, adding that Andhra Pradesh is also contemplating industrial incentives through escrow accounts unlike any other state in the country.

Further, the CM observed that MSME policy should be on the lines of 'One Family One Industrialist'.

Naidu said that the innovation hub in Amaravati will be named after the late Ratan Tata, former chairman of the Tata Group.

The Ratan Tata Innovation hub will have five satellite centres in the five regions of the state, he said and directed officials to ensure that one MNC each acts as a mentor for them.